Goldman CEO Received $54.3 Million Last Year
Goldman Sachs Chief Executive Lloyd Blankfein received $54.3 million in compensation after leading the top U.S. investment bank to record profits in 2006, according to a regulatory filing released Wednesday.
Blankfein, who took over the helm last year when former CEO Henry Paulson became Treasury Secretary, received a $600,000 salary in 2006 and a $27.2 million cash bonus. He also was granted $26.2 million from restricted stock and stock option grants, according to a filing with the Securities and Exchange Commission.
He was allocated $262,000 that was used for a car and driver, and financial counseling services. About $83,000 was allotted for additional health insurance, contributions to the company's pension plan, and other items.
Paulson was given $19.2 million in total compensation for his work last year through July. This included a salary of $346,000 and cash bonus of $18.7 million.
He was allotted $150,000 for car and driver and financial counseling, and $20,300 under Goldman's pension and benefit plan.
The company also reported Paulson and his wife received $51.4 million as Goldman repurchased their investments in the company's private-equity and hedge funds. Of that amount, Paulson's wife was given $5.5 million to redeem her investment in a Goldman hedge fund.
Co-presidents Gary Cohn and Jon Winkelried each were given a pay package worth about $53 million.
They each received a $600,000 salary and a cash bonus of $26.7 million. This is on top of $15.4 million of restricted stock and $10.3 million of stock option grants.
Winkelried did not have a car and driver service, nor did he receive financial services counseling. Only personnel that were executive officers in 2004 or 2005 were eligible in 2006 to receive these perks.
However, Winkelried received $79,000 from the company's executive pension plans and insurance program.
Cohn was allocated $106,000 for a car and driver, and financial counseling. He collected $78,000 from the pension plan and other compensation.